Missed opportunities in estate planning: Beyond wills and trusts
An estate plan is incomplete without a detailed list of instructions that explains how to carry it out.
Personal Financial Planning
Educating students for expanded financial planning careers
The AICPA is integrating personal financial planning into university-level curriculum in a manner that would help prepare prospective CPA candidates to qualify for the Personal Financial Specialist credential shortly after obtaining their CPA license.
Divorce post-TCJA: unexpected consequences
This article discusses changes that might affect clients that are divorced, are in the process of divorcing, or that have prenuptial or post-nuptial agreements.
Whether to choose a 529 or a Roth IRA to fund education expenses
This article discusses options available to clients to help pay for their children's or grandchildren’s education.
Top seven mistakes when claiming Social Security benefits
CPA financial planners need to consider their clients’ unique circumstances and help them avoid mistakes that could lead to the wrong decision.
Financial planning dialogues around Form 1040
A Form 1040 review with clients can facilitate a discussion on strategies to address major tax law changes.
Tax planning following the Tax Cuts and Jobs Act
This column discusses advising clients on the implications for choice-of-entity decisions, charitable giving strategies, and estate, retirement, and higher education planning.
Counterintuitive tax planning: Increasing taxable scholarship income to reduce taxes
This article discusses the potential benefit of choosing to include scholarships or grants in income.
Current U.S. tax incentives for higher education expenses
This article examines the requirements and limitations taxpayers face when seeking benefits of significant education-related income tax provisions.
Divorce and taxes: Hidden traps and your map around them
CPAs are in a key position to assess tax implications of property divisions and must consider professional responsibility standards if the ex-spouses both want to remain clients.
The CPA’s role in advising clients about the value of life insurance assets
Life insurance can be a surprisingly valuable hidden asset for clients who are retired.
Managing tax brackets in retirement
A tax adviser can help a client smooth out the high-income-tax peaks and the corresponding lower-tax-bracket years with an effective bracket-management strategy.
Advantages of a one-person 401(k) plan
These plans can allow a large amount to be contributed on behalf of the owner while maintaining flexibility in making contributions in future years.
Budgeting for realized gains
Disciplined planning for realizing gains lessens the potential for unanticipated taxes or ugly year-end surprises.
Federal retirement savings plan ended
Due to “extremely low” demand and high costs, the Treasury Department announced that it is ending the myRA retirement savings program.
Dispelling uncertainty: Scenario analysis for client security
A range of economic, political, personal, and other uncertainties can lead to clients having deep-seated fears about doing any one thing.
Uncompensated risk: The orphan of modern portfolio theory
Most fiduciaries breach a fiduciary duty simply because they ignore or neglect to follow the stated legal requirements for uncompensated risk management.
A new tax-efficient approach to protecting unrealized gains
A stock protection fund may be helpful to some investors.
Building on Compliance: The Evolution of Tax Services
Members of the public also recognize a CPA’s role as a trusted adviser for all their financial needs.
Reexamining tax-loss harvesting: Better results through enhanced understanding
Tax-loss harvesting offers the potential for significantly increased after-tax returns.
